grace period

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grace period

n.
A period after a due date or deadline during which an obligation may still be fulfilled without penalty or suspension of benefits.

grace′ pe`riod


n.
an allowance of time after a payment of a loan, insurance premium, etc., becomes due before one is subject to penalties or before the loan, policy, etc., is canceled.
References in periodicals archive ?
It has already been afforded two 180-day grace periods under NASDAQ's existing rules, and an additional 90-day grace period which is scheduled to expire October 27, 2003.
The Nasdaq recently amended its proposal, for which it is seeking SEC approval, to modify the grace periods for Nasdaq SmallCap Market companies seeking to regain compliance with the minimum bid price requirement.
When borrowers with this amount of indebtedness consolidate their student loans during their grace periods at the current interest rate and take advantage of an additional .
Such statements include information regarding MTI's expectations, goals or intentions regarding the future, including but not limited to statements regarding MTI's listing of its common stock on the SmallCap Market and the transition to such market, grace periods for compliance with SmallCap Market requirements and trading of MTI's common stock on the over-the-counter market, all of which are subject to change.
Additional grace periods may be available thereafter if Nasdaq's proposed rule changes are adopted.
On the SmallCap Market, however, Next Level would be eligible for additional grace periods, ending as late as October 11, 2003, to achieve compliance with the minimum closing bid requirements.
If MTI has not met the minimum bid price requirement at the expiration of all grace periods, the common stock may be subject to delisting from the SmallCap Market, in which event MTI's securities might be quoted in the over-the-counter market.
United Airlines (NYSE:UAL) announced that it will be relying on the grace periods included in certain debt obligations due to be repaid today, including $375 million in enhanced equipment trust certificates (EETC) and the approximately $500 million owed to Kreditanstalt fur Wiederaufbau (KfW), which is due today as a result of the failure to meet all of the conditions to a further extension of the repayment obligation.
By transferring to the Nasdaq SmallCap Market, Tellium may be afforded extended grace periods in which to satisfy the minimum bid price requirement, potentially until August 4, 2003, provided it meets other applicable listing criteria.
Furthermore, Procom may be eligible for transfer back to the Nasdaq National Market if, by the end of all grace periods, its bid price maintains the $1 per share requirement for 30 consecutive trading days and the company has maintained compliance with all other applicable listing requirements.
announced that it would exercise the 30-day grace periods on its upcoming bond interest payments, the first of which was due that day, and would commence restructuring discussions with its debt holders.
However, if the Company fails to meet all listing requirements, including the $1 minimum bid price, at the completion of all applicable grace periods, its Class A common stock could be subject to Nasdaq delisting pending an appeals process.